Posts Tagged ‘editorial’

Should we stretch for a mortgage?

Tuesday, June 9th, 2009

Source: http://www.guardian.co.uk/money/2009/jun/10/property-mortgage-renting-self-employed

Q We are renting?a house, having sold our flat in December 2008. We have about £70,000 in the bank and would like to buy again. My partner has a permanent (and, we think, safe) job that he’s been in for 11 years. I have been self-employed on and off since 2006 (but I don’t have any ongoing accounts – I was claiming unemployment benefit for a couple of months in 2007 and have claimed state maternity allowance in the last two years, too) but I’m self-employed until the end of July 2009 (it will have been a job for one year).

I am looking to work again after this job ends (there is a chance it may continue, but nothing is definite). We have a toddler and would like another child relatively soon, but I’d also like to remain working.?

I earn a good income and we have lots of spare cash (I do save a bit), but when I’m not working?we can just about get by on my partner’s wages.?

I’m not sure whether to stick at the freelance work, or if I’d be best getting something permanent that will count towards a mortgage – but I know I’ll earn?less, possibly half my?freelance day.?

I guess my question is, how much should we stretch ourselves in terms of the mortgage? If we shop around for mortgage offers, then we will know our situation – I think it’s possible that my income could be taken into account (but it’s so uncertain). We are thinking about moving out of London to get a cheaper property. However, I am more likely to get work in London and I can’t see how we can both logistically commute with our small child (I don’t want to leave him too long). HW

A Being self-employed is not, in itself, a barrier to getting a mortgage but you do need to have at least two years’ evidence of income. This doesn’t necessarily need to be formal accounts, as lenders will happily take tax statements issued by HM Revenue & Customs as evidence. If you don’t have these, I would start to worry.

If you are self-employed and tax is not deducted from what you earn at source (which is unlikely), you are legally required to file a self-assessment tax return each year. If you haven’t been doing this, you face financial penalties and a big bill for unpaid tax.

But, assuming that you have been filing tax returns, you should also have tax statements which will provide the evidence of income that you will need to have your income taken into account when applying for a mortgage. So you don’t need to give up your freelance work just to get a mortgage.

As far as how much you should stretch yourselves, a lot depends on your future income. If you are planning to have another child, you need to take that into account when looking at the cost of mortgage repayments. And you also need to look carefully at the financial implications of moving out of London. Although you may be able to get a cheaper property, you have to factor in the cost of commuting – not to mention child care costs for the time you spend on your way to and from work.

  • Mortgages
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Keydata Investment Services goes into administration

Monday, June 8th, 2009

Source: http://www.guardian.co.uk/money/2009/jun/08/keydata-investment-administration

Administrators freeze £3bn of Keydata funds

Keydata Investment Services, which specialised in creating “innovative” high income products, went into administration today, leaving a huge question mark over the future of the £3bn in investments it controlled.

The Financial Services Authority said the group was insolvent, following an application to the courts last week. It is unable to say whether investments are safe.

Dan Schwarzmann and Mark Batten of PricewaterhouseCoopers (PWC) have been appointed as joint administrators.

PWC told the Guardian that it had frozen the funds to protect investors but it did not yet know what funds might be at risk or whether investors had lost their money. But it added that Keydata funds based on easily valued investments such as portfolios of Alternative Investment Market shares in venture capital trusts would continue to be traded.

Keydata promised “investment solutions for the 21st Century” – these were mostly “structured products” which relied on complex derivatives of the type which ruined Lehman Brothers.

Some were “exotic”. The “Defined Income Plan”, based on “portfolios of US life insurance contracts” paid out around 7.5% for five years but did not guarantee investors would get their capital back at the end of that period. This depended on enough US policyholders dying early.

Keydata previously told the Guardian that these life contracts had never failed to produce income but admitted they were difficult to trade.

Others products depended on creating complex structures with swaps and other derivatives on stock market indices – again to create a higher income but with a risk of investors losing their savings.

One bond claimed to magnify any growth in the FTSE 100 index by a factor of 10 times. Keydata had continually to fend off accusations that its funds were similar to the now disgraced precipice bonds, sold heavily a decade ago, that left many investors penniless.

The plans were heavily promoted to independent financial advisers who earned 3% commission on sales.

Keydata was set up by Stewart Ford, now a Geneva resident according to records at Companies House. He founded the first Keydata companies in 1997, providing investment fund information to IFAs. But his big move forward was with the formation of Keydata Investment Services in 2001. He appears to own the majority of the shares.

Dan Schwarzmann said: Our focus is the consumers. This is a complex situation and we know many investors will have serious concerns. We will do all we can to get a clear understanding of the position as soon as possible. We will keep in regular contact.”

For more information, check PWC’s website or phone 020 7804 4424.

  • Investments
  • Investment funds
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If you do one thing this week … car share

Monday, June 8th, 2009

Sharing a lift on the way to work not only spreads the cost of petrol, it will give you and your company a green glow, says Adharanand Finn

In these days of mobile phones and iPods, we’re uncomfortable letting strangers into our personal space. Only small children and old ladies would risk smiling at someone on a city bus. So why would you want to let someone into the cosy confines of your car, particularly in the fragile early morning hours before the start of the working day?

Advocates of lift sharing have a host of sound reasons. The most compelling are that it saves you money and reduces car emissions – this is simple maths: two people driving together in one car produce roughly half the emissions of two people travelling in two cars. They can also split the cost of petrol.

More questionable is the assertion, on the leading lift sharing website, liftshare.com, that it is more fun. You can make new friends, it cheerfully suggests. A nice idea, but in practice – at least when I tried it years ago – just as you come to arrange a lift you begin worrying about the possibility that your potential sharer will be a mass murderer or something.

At best your lift sharer will be a terrible bore or have poor personal hygiene (or both), and you’ll be stuck together, for hours, just the two of you, side by side, staring at the road ahead. For the sake of a few pounds and some petrol emissions wouldn’t it be easier to not bother?

This uneasiness we feel about sharing a car with a stranger has not only contributed to the slow death of hitchhiking in recent years (in the UK at least), but is prohibiting the uptake of lift sharing.

Liftshare.com is now more than 10 years old, and although it has more than 300,000 registered users, many, I suspect, are like me – people who signed up a long time ago but have never actually arranged a lift, while others may not be able to match their requirements with a person who can help out. Artist Melissa Beagley recently tried to arrange a lift from London to Devon on a Friday night, but couldn’t find a single person going her way.

But with the recession in full swing and the planet getting ever hotter, this is a good moment to reassert your faith in your fellow humans and do something to help this noble lift sharing idea on its way. With tomorrow designated National liftshare day there is no better time to start.

The uncertainty of potential sharers can be reduced to some extent by setting up a lift sharing group within your workplace. You can do this with a basic noticeboard in the office on which people can list their journeys, or on the office intranet or online – liftshare.com will organise a page for your company on its website.

An office-based scheme will also give you a chance to get to know your colleagues better, and it should be easier to arrange a lift as you’re all heading the same way – to work.

The only downside, according to Amy Bunting, who lift shared when she worked for Barclaycard in Northampton, is people being late for the pickup.

“One man I shared with was absolutely terrible at getting up and he ended up getting dressed in my car on the way to work most mornings,” she says. “That looked great when we arrived at work and he was doing up his belt and tucking his shirt in as we got out of the car.”

If you ask nicely, your company may stump up some incentives to get the scheme started – and encourage people to be on time, such as vouchers for the canteen. In return it gets a positive boost to its eco-status and, if the scheme takes off, the need for fewer parking spaces.

For maximum green bonus points it could even turn a few of the redundant spaces into an office allotment – or is that going a bit too far?

  • Saving money
  • Work & careers
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Snooping around

Friday, June 5th, 2009

From a Chelsea wreck to a dream home in Cornwall

Am I too old for an internship?

Friday, June 5th, 2009

Source: http://www.guardian.co.uk/money/2009/jun/05/work-and-careers-advice

Problems at work? Our agony uncle has the answer


How will it look if I become an intern after a seven-year career?

A couple of months ago my company closed some offices and departments to cut costs, including my department. I have had a few interviews for similar roles since then, but no offer has been made yet. All feedback points to the same problem: I lack commercial experience. I have never worked with external clients – my old role was about providing services for internal stakeholders – and I now understand this is valuable experience that I need if I?want to open up my job options.

When I realised this, I identified the best companies in my sector and knocked on their doors asking for an ­internship. I have been offered an eight-week stint at a reputable company working with big-name clients. It has promised I will be involved in projects and meetings with clients. I?have no doubt this will give me experience of client-focused environments, and the confidence to perform better in job interviews.

This is an important investment of time and money (I will earn nothing in this position) so I really want to make the most of it. My concern is, how can I fit this internship into my CV? After a professional career of more than seven years, it will look odd if I place my internship as the most recent position I have held. Will this deter any potential employers from shortlisting me?

You’ve shown admirable resilience and initiative. To apply for an internship after seven years of a professional career displayed an optimism bordering on the unrealistic: yet it worked. There’s no question you must snap it up, and I’m sure that’s what you intend to do.

As far as your CV goes, you need to construct it in a slightly unorthodox way. Rather than listing your internship as your most recent experience (which I agree could look a bit curious), you should highlight it at the start with an explanation of why it was necessary, very much as you’ve explained it to me. I don’t know your age, but a paragraph headed along the lines of Why Did a 30-Year-Old Professional Welcome an Internship? tackles the issue head on and presents it positively. All other things being equal, this should get you through to the interview stage. Indeed, some employers will mentally give you high marks for having shown such determination and enterprise.

It’s worth wondering, too, just why this reputable company with important clients agreed to take on such an unconventional intern. It’s unlikely to be pure philanthropy. They must be at least a little intrigued by your background and character. Those eight weeks present you with a golden opportunity to show that you could be of more permanent value to them.

I’m not suggesting that you should be pushy; just that you should leap at any chance to show your usefulness, which could involve calling on your experience as a provider of internal services. A promising, client-facing executive with a good understanding of internal administration could be an attractive prospect for the company.

All that may be a little too much to hope for. But there’s no doubt at all that, if you make the most of your internship, it will greatly increase your confidence and your chances; and it will provide potentially telling evidence of your strength of character.


Demand for bonus fee from business advisers is hard to justify

I run a small design consultancy. At the start of the year I decided to streamline our business practices, knowing we needed more work. I was approached by a group of business specialists who claimed to be able to improve my business exponentially in return for a fixed monthly amount plus a “bonus fee” paid on achieving the increase.

I didn’t believe the “exponential” part but we were pretty desperate for work so I signed up for a two-month trial. Most of the business advice was useful and imaginative. As luck would have it, two of our existing clients had new projects so the need for other work was not quite so desperate – just as well, because my business advisers manifested neither the introductions nor additional business they claimed.

Then the “bonus fee” contract was presented. Above an amount of turnover defined as “more than I would have generated without their advice”, I would be required to pay 25%. There was no mention of affordability – supposing my profit margin on the extra turnover was 20%, I would still be required to pay the 25%, resulting in a loss. On this basis I cancelled the contract. Currently it looks like my business is going to survive – the exponential increase isn’t going to happen but I have saved the monthly fees and potentially massive bonus fees. Is such a high percentage common with business interventionists?

You’re well out of this. They expected to be paid for two services: the introduction of new leads or new business and the provision of professional advice. The trouble is, while it’s reasonably easy to calculate the value of the first, it’s quite impossible to do so with the second.

The successful introduction of a new bit of business has a fee attached and it’s customary for whoever introduces it to claim a commission: either a single finder’s fee or a proportion of the additional revenue. No new business, no fee. But nobody knows – and nobody can know – the precise effect on incremental income of professional advice. You found most of it useful and imaginative and it was therefore probably worth the monthly fee. But to demand 25% of some notional gain over what you would have generated without such advice is clearly ludicrous.

With the best will in the world, you couldn’t possibly agree a figure that would make sense to you both.

For Jeremy Bullmore’s advice on a work issue, send a brief email to work@guardian.co.uk. Please note that he is unable to answer questions of a legal nature or reply personally

Readers’ advice

To add to the answer given to the fashion sales manager about whether looking after children full time will damage her career (Dear Jeremy, 23 May). Your situation is very common, and I agree completely with Jeremy’s advice.

Don’t take a lower-scale job unless you need the income. Enjoy your kids, and before you’re ready to go back to work, do a course related to your career. It’s a great way to improve your skills, will look good on your CV, and will demonstrate to employers that you’re serious about what you do.

I took a long break myself and started a part-time MA while still at home. The break and the course have given me a new perspective on work I didn’t have before, and have really helped make me work more effectively. Fabienne Pagnier

Did Jeremy get it right? Email us at work@guardian.co.uk and we’ll print the best reply

  • Work & careers
  • Sectors
  • Forums
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Insurance: Cover up those excesses

Friday, June 5th, 2009

Now you can ‘insure’ all the initial charges payable when claiming on a policy. But do the sums add up?

UK householders can insure all their policy excesses with one low-cost annual payment. Insure4excess, which made its name offering car hire users cheap excess insurance, will now cover all the excesses payable on the five main policies: home, car, health, travel and pet insurance. It is also offering standalone car excess cover for the UK, and claims that it can pay for itself immediately.

What is it?

The basic cover – bronze – costs £49 a year. Householders can get back the excesses on any claims during the year up to £250. So, if your dog required surgery and you had to pay the first £50 of the pet insurance, it would refund that. If you were burgled and forked out a £100 excess it would return that too.

Can you insure more?

The silver policy costs £75, covering all excesses paid on claims made in one year up to £500. Gold costs £99 and covers up to £750. Payouts are triggered when a claim is made to the principle insurer. Policyholders have to be 25 or older.

How do the savings work?

The company says the policies will pay for themselves in reduced premiums, achieved by increasing the excesses on their main policies. Insure4excess says travel cover typically carries a £50 excess, while home and motor policies feature excesses (the first portion of a claim, paid by the customer) of up to £250. Generally, the higher the excess, the lower the premium.

These policies make particular sense if you have made a claim and are facing increased premiums as a result.

Insure4excess.com managing director Simon Vella, says: “People purchasing standard motor, home and pet policies will collectively save between £48 and £120 by tweaking their excess liabilities – and this is just for basic policies, before other cover amendments are made to further cut premiums. Our annual policy is much cheaper than the savings that can be made, so consumers will be quids in even if they don’t have to claim back excesses.”

Any downsides?

The problem of high excesses is that you effectively end up paying any small claims yourself, as Insure4excess only pays out once you make a claim to your main insurer. If you raised the car policy excess to £750, and bought its gold policy, you would only be able to make a claim costing more than £750. This can work for car drivers who would always pay any small claims themselves because the cost of claiming would be more than outweighed by the following year’s rise in premium.

Can I insure only my car excess?

Yes, and it will appeal to newly qualified car drivers who are aged over 25.

The company’s gold annual excess cover is £79 – many new drivers will save more than this by increasing the excess on their car insurance to £750.

Insure4excess would meet the first £750 of a claim with the insurer picking up the rest. Again, to buy the policy, you have to be 25 or over, making it a no-brainer for newly qualified drivers facing a huge first car insurance premium. Insure4excess allows two claims a year up to £750 each.

It also offers bronze cover for £39 which solely covers motor excesses of up to £250 while the silver policy costs £59 and covers excess of up to £500 – both will offer some older drivers savings, particularly if they have made , but it looks as though 25-year-olds will save the most.

Can it work for me?

Go to the insurance comparison websites (the likes of Confused.com or Moneysupermarket.com) or ask your existing insurers how much you will save if you increase the excesses. Car insurers will typically cut premiums by £20-£40 a year if you lift the excess from £100 to £300 – more for younger drivers. Home insurers will do the same. Make a £10-£20 saving on each of the five main policies and you’ll be in the money – and better insured.

  • Insurance
  • Home insurance
  • Motor insurance
  • Consumer affairs
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Trading up, trading down

Wednesday, May 27th, 2009

On the look out for a bigger home, or wanting to downsize? Anna Tims picks some properties that might fit the bill …

Behaviour of letting agents ‘out of control’

Friday, May 22nd, 2009

A report by Citizens Advice finds that charges often ‘bear no relation to cost’

Letting agents are routinely ripping off tenants with unjustified and excessive charges, while providing a poor or nonexistent service, according to a report this week by Citizens Advice.

It found a range of spurious charges, with some agents demanding £275 from tenants just to check references, or more than £200 to renew a contract. Citizens Advice Bureaux are dealing with 6,000 complaints about letting agents a year. It says the behaviour of agents is now “out of control” and that the charges “bear no relation to the cost of the work involved”.

The number of letting agents has mushroomed in recent years with the dramatic expansion of buy-to-let and, more recently, the growth in “accidental landlords” unable to sell their homes as a result of the property slump.

The CAB went through the terms and conditions of 424 letting agents, and found that 94% imposed up to seven additional charges on tenants, not counting the deposit and rent in advance. These included a non-returnable holding deposit, a deposit administration charge, a reference check charge, an administration fee, a check-in inventory charge, a check-out inventory charge and a tenancy renewal fee.

About 2.6m properties are now let out on the private rental market and concern is mounting about a growing number of rogue landlords and letting agents. There have been calls for greater regulation and a green paper, expected within weeks, is likely to recommend a new statutory regulatory regime for letting agents following a report by Professor Julie Rugg of York University last November. Agents could be struck off if they fail to meet new standards, while landlords, including buy-to-let investors, may be asked to pay a £50 licensing fee before they let a property.

But Citizens Advice chief executive David Harker says: “Government plans to regulate letting agents don’t go far enough. They must include a ban on additional charges, which can be a huge barrier for people on low and even average incomes.

“There are so few controls over who can set themselves up as a letting agent and the charges they can make that it is tantamount to a licence to print money. The charges often bear little or no relation to the cost of the work involved and in some cases letting agents appear to make them up as they go along.”

At present, anyone can set themselves up as a letting agent without any need for professional expertise or experience, any rules or controls over how they hold and manage the steady stream of money they handle between tenants and landlords, or any redress scheme for when things go wrong.

The Citizens Advice report, Let Down, found that three-quarters of tenants are unhappy with the service they receive from letting agents. Common problems included difficulties in contacting the agent and serious delays in getting repairs carried out.

According to the report: “Most tenants said the agent was very helpful initially but this changed completely once they had been signed up to the tenancy. One of the biggest problems was getting repairs dealt with. Many tenants reported difficulties getting through to the agent and said when they finally did they were met with an unprofessional and uncooperative response. The way some agents handled money also led to tenants being left significantly out of pocket, and in some cases the agent simply disappeared.”

The report also uncovered evidence of letting agents charging both landlords and tenants for the same service. Simon Gordon of the National Landlords Association says: “It is not just tenants that suffer from unfair fees which bear no resemblance to the work undertaken. Both tenants and landlords have to pay hefty renewal fees to the letting agent even when the agent has not worked throughout the tenancy to earn the cash. The OFT is already challenging this practice through the high court. We have to ensure that statutory regulation stops the abuses which have given the whole sector a bad name.”

The NLA has thrown its weight behind a court case against Foxtons, probably London’s most controversial agents. The Office of Fair Trading claims that terms in Foxtons’s residential letting contracts are so onerous and one-sided that they are illegal under consumer legislation.

  • Renting property
  • Property
  • Buying to let
  • Consumer affairs
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Work: Women of an uncertain age

Friday, May 22nd, 2009

Two women reveal how age crept into their working lives: one having to prove sceptics wrong by setting up her own business; the other coping with an office of twentysomethings

Whether it’s in the workplace or a labour ward, prejudice and discrimination can be part and parcel of daily life for women of a ­”certain age”.

Elizabeth Adeney, a 66-year-old who runs a manufacturing business in Suffolk found herself in this week’s opinion columns after disclosing she is eight month’s pregnant and set to become the oldest woman in Britain to give birth.

So as a new report warns that older workers are more at risk of losing their jobs in this recession, we asked two working women how they rise above the banter, innuendo and skepticism.

Simeone Salik, 66 started her own company two years ago when her husband retired. “Some people like to work; others can’t wait to stop. I belong to the first category. And I wasn’t about to let a small thing like my age stop me when I spotted a great business opportunity not long after my 65th birthday,” she said.

“After leaving school at 18, I had a job and helped to support my then boyfriend – now my husband of 46 years – through university by working as assistant to the PR for Liberty’s of Regent Street and then with one of the first standalone PR agencies, Leslie Frewin. I then worked in the PR department of Masius & Wynne Williams, a large advertising agency, until my children began to arrive. All this was in the 1960s, when women stayed at home to look after their children and it was more unusual to leave them while you worked.

“My husband, an optometrist with several practices by now, was very involved in the administration and running of his business, so I was able to help him after work and at the weekends and learned how a business should be run properly – minimum expenses and maximum profitability, with good customer relations and after-sales service.

“But when the first of our three daughters went to university, I realised that very soon we would be ‘empty-nesters’ and encouraged my husband to sell his business and work from our home in his professional capacity. I became the receptionist and dispenser.

“As his retirement age loomed, I once again wanted a project and, more by luck than judgment, found a plot of land and we built our retirement bungalow. This took us three years to accomplish. After leaving ordering the curtains until the very end, I realised that there was a real gap in the market for temporary, inexpensive blinds, and asked a designer called Janice Dalton if she wanted to go into business with me to fill the gap. My husband, who had never wanted me to work before, was very supportive but my family was sceptical – after all, I was just their mother and at 65 probably not in the 21st century at all. What did I know?

“It took us more than 18 months to set up our business and after an introduction to Dominic Lawrence, who was sourcing the blinds from the far east, we asked him to join us as an equal partner.

“We built a website and even did our own video, with Dom shooting, Janice demonstrating and lots of laughter. We launched the website in November 2008, and to our surprise, started little by little to get orders from around the UK and even from the Irish Republic and Spain.

“One of the things I had learned from working with my husband was that if you keep your costs down you don’t have to borrow from the bank and, in fact, our set up costs were funded three ways from our individual savings or earnings. We spent no more than £3,500 each and the stock was ordered with a 60-day payment deferment.

“All this time the ‘credit crunch’ was becoming more and more real and suddenly banks, which had formerly been the rock of our society, were failing. We could not have launched a business at a worse time.

“However, our blinds, which are cheap, instant and temporary, are just the job for a recessionary period. My PR seemed to be working well and we had some really nice mentions in both newspapers and magazines.

“One Manchester paper called us ‘idea of the week’ and the Dragons’ Den production team in Manchester, who must have seen the story, contacted us to suggest we fill in an application form. At first we thought it a crazy idea, but after much discussion decided to send the form in.

“We were asked to go to pitch and have a screen test at the BBC studios in London and eventually after quite a few weeks, were asked to go to ­Pinewood to appear in the Den. Dom, to his credit, insisted that we rehearsed, rehearsed and researched so that we would be ready to field any questions.

“On the day, I didn’t feel too nervous. At my age, all I was worried about was making a fool of myself and giving my family ammunition to laugh at me forever more. We pitched for over an hour and were really happy when James Caan and Duncan Bannatyne decided to give us investment.

“They have guided us on a weekly basis and have helped us, by involvement with their other investments, with our distribution and the admin.

“By association with them, Blindsinabox is now a ‘real’ company and my eight grandchildren think I am a really ‘cool’ grandmother, especially when teachers in their schools tell them that they have bought the blind, and is it their grandmother they have seen on the TV?

“It has changed my life and I would recommend anyone who thinks they are too old to change or to start a new career to go for it. You will never regret it and will learn lots of new things, like using your BlackBerry to text your family: “C U 2NITE. SPK L8TR”.

Carol Cooke, 57 is a public accountability manager for the BBC.

“Last week I opened an email from a young woman inviting us to celebrate what she called ‘a significant’ birthday, by eating the chocolate cake on her desk. She was 25. As I mooched over, I realised I was the oldest woman in the office. I was surrounded by babies – I wanted to tie pelican bibs round their necks, and warn them about choking on crumbs.

“The Pensions Act decrees that I can’t retire at 60 but have to keep going a bit longer. I enjoy work but when I sit down at my computer, I am surrounded by people barely out of their babygrows, whose voices are still breaking, and whose chosen daytime drink is fizzy pop.

“Being the oldest woman in the office is odd. How did it happen? Was I not paying attention? One moment I was one of the kids, going out after work and drinking a lot. The next minute I am quietly responsible, find it difficult to function after three glasses of wine the night before, don’t want to go to clubs – even if I could find one without my glasses – and look forward to an evening self-medicating on Desperate Housewives.

“My terms of reference are different. I complimented one young woman on the flower in her hair. She explained she was ‘channelling Katy Perry’. I gave a knowing laugh and rushed off to ask the child sitting at the next desk for guidance.

“Then there’s exercise. What does the oldest woman in the office do when people are putting on running shoes and tiny T-shirts? And if I am prepared to put on shorts and just accept I look tubby, I get half way round the run and then collapse. I love the three-gate route – at least you get a break while someone opens the damn things.

“It’s not just the running kit. I have a penchant for clothes with bits of glitter, but conclude that if everyone around me looks as if they are back-packing round Europe during their lunch hour, then glittery tops are passé. The backpack look is popular but you have to possess flawless skin and swinging blonde hair to look good in tones of grey and khaki.

“When I wrote about my ‘oldest women’ problems on a BBC webpage, I received some great responses. One woman pointed out that ‘the traditional cauliflower head perm of our mother’s generation has been replaced by the blonde bob which tops the spreading torso’. Yep.

“Another woman classed herself as a ‘transitional woman’ but found the thought of the transition to being retired and, keeping your nose out of things, too difficult to imagine.

“So yes, I’m on Facebook, and listen to music via YouTube, but choosing the right clothes, and knowing what the fresh-faced babies working the urban guerrilla-look are talking about is something the Pensions Act forgot. And that’s a major omission.”

  • Discrimination at work
  • Work & careers
  • Older people
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Ageing Britain: Retirement homes

Wednesday, May 20th, 2009

Anna Tims looks at properties where retirees can spend the best years of their life